Destination Egypt is a country in northeastern Africa on the Mediterranean Sea. The population of Egypt is concentrated chiefly along the fertile valley of the Nile River because the rest of the country is largely desert. Egypt is one of the top tourism destinations in Africa.
BMI’s Egypt Tourism Report analyses the investment potential which Egypt offers to large tourist industries – particularly global hotel groups – as they seek to harness the growth opportunities being offered by the local market over the long term. However, over the short term, still-high political risk will continue to act as a clear suppressant to tourism demand.
Looking at recent indicators from the sector, Q313 arrivals proved every bit as bad as BMI had feared, with July, August and September all seeing significant falls in tourist arrivals year-on-year (y-o-y). We believe the tourism sector currently stands at its lowest point since February 2011, although we are cautiously optimistic that Q413 should mark a short-term low point for the industry.